Crude oil prices rose 1% on Monday and Oklahoma energy stocks also entered positive territory after the OPEC+ November increase in output wasn’t as big as some feared. The increased production was considered “modest” according to some analysts who explained the production increase actually tempered concerns about oversupply worldwide. Reuters reported that on …
Hydrogen Hub Projects Face Major Federal Funding Cuts Two years after Oklahoma, Arkansas, and Louisiana tried and failed to secure federal funding for their proposed HALO Hydrogen Hub, the federal government’s energy priorities are shifting once again. This week, the Trump administration announced that it will cancel a portion of the $7 billion in hydrogen …
Industry Leaders Warn of Delays in Federal Energy Permitting If the federal government shutdown continues much longer, its effects could extend far beyond Washington, D.C. — and deep into the U.S. oilfields. Industry officials say the stalemate is already threatening to slow or halt the approval process for oil and gas drilling permits on public …
Sen. Boren Leads Study on Oklahoma’s Energy Tax Framework Oklahoma’s commitment to being an “all of the above” energy state took center stage at the state Capitol as Sen. Mary Boren (D-Norman) led a detailed interim study before the Senate Revenue and Taxation Committee. The focus: whether Oklahoma’s current energy tax structure equally supports its …
Cana Woodford Rig Count Rises Oklahoma’s oil and gas industry showed signs of renewed activity this week. According to the latest Baker Hughes Rig Count, the Cana Woodford play added one active drilling rig, pushing its total to 19 rigs. The increase marks a small but encouraging gain for one of the state’s most active …
EOG Resources Expands Operations to Central Ohio Texas Oil and Gas Giant Invests $28.7 Million in New Facility EOG Resources, one of the nation’s largest oil and gas producers, has announced a major expansion outside its Texas base, opening a new division in Central Ohio. The Fortune 500 company finalized the purchase of the former …
U.S. Energy Headlines: From TVA Leadership to DOE’s Nuclear Leap Energy leadership and priorities are shifting fast across the United States. Two Congress members confirmed that Tennessee Republican Sen. Bill Hagerty is being considered as the next CEO of the Tennessee Valley Authority (TVA). If appointed, Hagerty would shape the region’s power strategy for years …
Oklahoma recorded a one rig gain in its active number of oil and gas rigs operating in the state in the past week while nationally, the count was unchanged at 549. The Baker Hughes Rig Report, released Friday, showed Oklahoma’s count grew by one to 43 rigs. The U.S. total was unchanged despite …
Despite a slight gain on Friday, crude oil prices finished the week with a loss of 8.1% after investors showed their nervousness about the weekend meeting of eight OPEC+ countries who gathered to considered increased international oil production. The 8.1% loss for the week also turned out to be the biggest weekly loss …
Federal Agents Arrest Five Men in Oil Theft Conspiracy Federal investigators say a major oil theft scheme in New Mexico has been dismantled. Five men face federal charges after agents documented them stealing hundreds of barrels of crude oil a day, each load worth tens of thousands of dollars. The accused are Maxwell Jensen, Thomas …
